On Monday (1st May 2020), Zynga announced that it would acquire Istanbul-based Peak for a total consideration of USD$1.8bn (£1.4bn), marking its largest acquisition, and the largest exit by Turkish start-up, to-date. With the deal expected to close within the next quarter, TheGamingEconomy examines the implications of the deal for the San Francisco gaming giant, and how it will shape its future growth.
Doubling down on match-three
Ostensibly, the acquisition is in line with Zynga’s overriding business strategy in mobile gaming since [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: DoubleDown Interactive in USD$100m (£79.8m) IPO; Nexon to invest USD$1.5bn (£1.2bn) in global entertainment companies; and Giants Gaming acquires x6tence.
DoubleDown Interactive in USD$100m (£79.8m) IPO
Social and casino developer-publisher DoubleDown Interactive has submitted filings with the SEC for an initial public offering (IPO) on the Nasdaq stock exchange, with its shares to be traded under the symbol DDI. The Seattle, Washington-based firm intends to raise up to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Homa Games partners with IRL Team; LootLocker raises SEK2.4m (£201,000); and Paradox Interactive opens new Barcelona studio.
Homa Games partners with IRL Team
Homa Games has joined forces with indie idle game studio IRL Team, with the aim of expanding its capabilities across mobile development and publishing. The three-strong staff at IRL Team have been hired by Homa Games but will continue to operate IRL Team out of [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Zynga in talks to acquire Peak; NetEase to raise up to USD$3bn (£2.4bn); and Avalanche Studios Group to open new UK studio.
Zynga in talks to acquire Peak
Social game developer and services company Zynga is in advanced talks to acquire mobile games company Peak Games in a cash and shares deal which would value the latter at approximately USD$1.8bn (£1.5bn), according to a reports from Turkish media. [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Bilibili to raise USD$650m (£529m); Three Gates acquires majority stake in Tivola Games; and Kippo secures USD$2m (£1.6m) seed funding.
Bilibili to raise USD$650m (£529m)
Chinese streaming platform Bilibili has announced that it aims to raise a minimum of USD$650m (£529m) through the issuance of convertible senior notes for its American depository shares (ADS), with the bonds set to mature on 15th June 2027. Initial purchasers will also [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Nvidia GeForce NOW pivots to opt-in model; Carry1st raises USD$2.5m (£2.0m); and TeamSpeak partners with Activision Blizzard.
Nvidia GeForce NOW pivots to opt-in model
Nvidia have announced that developers and publishers will now have to opt-in to listing their titles on its GeForce NOW cloud gaming service, as opposed to requesting the removal of IP if they do not want it to be playable on the platform. The [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent to invest CN¥500bn (£57.0bn) in infrastructure; League of Legends adds in-game banners; and Renegades CEO fined USD$15,000 (£12,000) by FINRA.
Tencent to invest CN¥500bn (£57.0bn) in infrastructure
Dowson Tong, Senior Executive Vice President at Tencent Holdings Ltd. has announced that the Chinese conglomerate will be investing approximately CN¥500bn (£57.0bn) in infrastructure over the next five years, with aims to both support and diversify from its video game [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent becomes largest shareholder in Marvelous; We Are Nations launches Nations Ventures; and IGDA launches global indie collective.
Tencent becomes largest shareholder in Marvelous
Tencent Holdings Ltd. is set to become the largest individual shareholder in Marvelous Inc., with its wholly-owned subsidiary Image Frame Investment Limited purchasing a 20% stake in the Japanese developer-publisher for approximately JP¥7bn (£53m). As well as the issuance of 8.62 million shares by [...]